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Latest Business News Wires - Business Headlines

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  • TOKYO, Oct 30- The Bank of Japan eased monetary policy on Tuesday for the second straight month by increasing asset purchases, as slumping exports and factory output heighten pressure for bolder action to support an economy on the cusp of recession.

  • Nikkei hits 2-week closing low after BOJ eases Tuesday, 30 Oct 2012 | 6:10 AM ET

    TOKYO, Oct 30- Japan's Nikkei share average fell 1 percent to a two-week closing low on Tuesday after the Bank of Japan eased monetary policy by increasing the size of its asset buying and lending programme by 11 trillion yen, largely as expected.

  • BOJ eases policy as recession risk mounts Tuesday, 30 Oct 2012 | 6:04 AM ET

    TOKYO, Oct 30- The Bank of Japan expanded its asset purchases by 11 trillion yen on Tuesday, easing monetary policy for the second straight month amid heightened pressure for bolder action to fight deflation and support an economy on the cusp of recession.

  • MUMBAI, Oct 30- India's central bank left interest rates on hold on Tuesday but cut the cash reserve ratio for banks, defying pressure from the government to lower rates for the first time since April but also indicating it may soon ease policy further.

  • Crucial negotiations between the International Monetary Fund and Egypt on a $4.8 billion loan program begin on Tuesday and a top IMF official said an agreement must address the nation's gaping budget deficit without constraining economic growth.

  • *StanChart shares down 1.1 pct in Hong Kong. HONG KONG, Oct 30- Asia- focused bank Standard Chartered said its operating profit grew by a mid-single digit rate in the first nine months of the year, putting it on track for a 10th straight year of record earnings.

  • Yuan weakens as traders sense rate balance Tuesday, 30 Oct 2012 | 5:06 AM ET

    *China c.bank weakens yuan midpoint. SHANGHAI, Oct 30- China's yuan weakened slightly in morning trade on Tuesday, and traders said it may have reached a natural balance after last week's rush for the currency. The People's Bank of China set its midpoint at 6.3028 per dollar, weaker that Monday's fix of 6.2992.

  • HONG KONG, Oct 30- Hong Kong shares weakened in morning trading on Tuesday, with local developers slipping further into the red in the wake of curbs on real estate purchases in the territory announced last Friday.

  • *Exelon Corp declares alert at New Jersey Oyster Creek nuclear plant on storm surge.

  • NYSE to test new storm plan, trading floor undamaged Tuesday, 30 Oct 2012 | 4:37 AM ET

    Under the plan outlined late on Monday, all trading in NYSE- listed securities would be executed on the Arca exchange, NYSE said in a notice issued to traders. ``We stress that, as of now, there has been no damage to the NYSE Euronext headquarters that would impair trading floor operations,'' NYSE said in the notice.

  • PRECIOUS-Gold ticks lower, economic concerns return Tuesday, 30 Oct 2012 | 4:22 AM ET

    SINGAPORE, Oct 30- Gold edged down on Tuesday, heading for its biggest monthly loss since May, after disappointing corporate earnings prompted investors to sell holdings to cover losses in other markets, which have been hurt This week's focus will be Friday's U.S. non-farm payrolls report, which could shed light on the nascent labour market recovery and influence an increasingly tight election between Republican Mitt Romney and Democrat Barack Obama.

  • HONG KONG, Oct 30- Asia- focused Standard Chartered said its operating profit so far this year rose by a mid-single digit rate, dented by a settlement paid to New York regulators who had threatened the bank's licence in the state over allegations it hid transactions with Iran.

  • Constellation shuts Nine Mile One nuclear reactor-NRC Tuesday, 30 Oct 2012 | 4:12 AM ET

    NEW YORK, Oct 30- Constellation Nuclear Energy Group's 630- MW Nine Mile One nuclear power reactor in upstate New York shut on Monday due to a problem putting power onto the grid, a spokesman at the U.S. Nuclear Regulatory Commission said.

  • *Storm forced two-thirds of U.S. East Coast refineries to shut. SINGAPORE, Oct 30- Brent crude slipped below $109 a barrel on Tuesday as Tropical Cyclone Sandy shut East Coast refineries, roads and airports, reducing crude and fuel demand in the world's largest oil consumer.

  • SINGAPORE, Oct 30- Singapore is likely to see another year of lacklustre economic growth and elevated inflation in 2013 as exports remain weak and rising rents and car prices continue to push up the cost of living, its central bank said on Tuesday.

  • SINGAPORE, Oct 30- Singapore is likely to see another year of lacklustre economic growth and elevated inflation in 2013 as exports remain weak and rising rents and car prices continue to push up the cost of living, its central bank said on Tuesday.

  • NEW YORK, Oct 29- U.S. power company Exelon Corp on Monday declared an alert at the 615- MW Oyster Creek nuclear power reactor in New Jersey due to rising ocean water from Hurricane Sandy, a spokesman at the U.S. Nuclear Regulatory Commission said. An alert is the second lowest of the NRC's four emergency classifications.

  • NEW YORK, Oct 29- U.S. power company Excelon Corp on Monday declared an alert at the 615- MW Oyster Creek nuclear power reactor in New Jersey due to rising ocean water from Hurricane Sandy, a spokesman at the U.S. Nuclear Regulatory Commission said. An alert is the second lowest of the NRC's four emergency classifications.

  • EXCLUSIVE-UPDATE 1-JDA Software on the block - sources Tuesday, 30 Oct 2012 | 2:36 AM ET

    Oct 29- Enterprise technology maker JDA Software Group Inc is exploring a sale and has hired JPMorgan Chase& Co to advise on the process, people familiar with the matter said.

  • SINGAPORE, Oct 30- London copper rebounded on Tuesday from a near two-month low hit the session before with consumers attracted by the lower prices, although global growth worries are likely to cap gains in trade thinned by a hurricane in the United States.